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GM making a comeback, Will it convince investors?

General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public.

It was the second straight quarterly profit for the Detroit automaker, which made $865 million in the first quarter, and sets the stage for GM to file paperwork soon to start the public stock sale process.

CEO Ed Whitacre said last week that the company is eager to sell shares in an initial public offering so it can end its dependence on the government and pay off $43.3 billion in bailout funds that were converted into a majority stake in the company. Whitacre wants the company to shed its "Government Motors" moniker because it's hurting sales and the company's image.

http://news.yahoo.com/s/ap/us_earns_gm

 
sweet-a-kins

Asked by sweet-a-kins at 10:23 AM on Aug. 12, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
This question is closed.
Answers (11)
  • Only the idiot ones. My dh was lais off from gm, after being told they had received a bail out and his job was secure. They blew the money taking the executives on a fancy ass vavcay. that took a good 80% of the bail out.
    hot-mama86

    Answer by hot-mama86 at 11:28 AM on Aug. 12, 2010

  • Not likely. Gm stock is a gamble. Unless u get in and get out because of the likely failure of the volt
    Carpy

    Answer by Carpy at 1:33 PM on Aug. 12, 2010

  • Depends on whether or not they start putting out a higher quality product. GM cars have been consistently poorly rated by consumer reports.
    sopranomommy

    Answer by sopranomommy at 2:11 PM on Aug. 12, 2010

  • I won't invest in that company, and I won't own another GM vehicle ever again.
    May-20

    Answer by May-20 at 3:38 PM on Aug. 12, 2010

  • Hello. Does 65 Billion mean anything to you? Thats how much of the TARP GM got. 1.3 billion is chunk change. We will never be paid back. Even GM admitted their precious volt will be a drain for several years. UGH Don't fall for their crap.
    itsmesteph11

    Answer by itsmesteph11 at 4:20 PM on Aug. 12, 2010

  • If you want to make a profit buy FORD. Screw GM, they are not a good investment.
    itsmesteph11

    Answer by itsmesteph11 at 4:22 PM on Aug. 12, 2010

  • This is EXACTLY what we were talking about in lovin's post! Corporate executives DID THIS!!!

    OH whoops didn't notice that. However yeah I was pissed. We had to relocate because of it. ID to AZ. No jobs were in ID at the time, now there are almost no jobs in this area either. corporate guys are idiots.
    hot-mama86

    Answer by hot-mama86 at 3:09 PM on Aug. 12, 2010

  • They will be lucky to find any investors when Obama threw the investors to the curb in favor of the unions.

    Natesmom507

    Answer by Natesmom507 at 3:38 PM on Aug. 12, 2010

  • Sorry laid off
    hot-mama86

    Answer by hot-mama86 at 11:28 AM on Aug. 12, 2010

  • Only the idiot ones. My dh was lais off from gm, after being told they had received a bail out and his job was secure. They blew the money taking the executives on a fancy ass vavcay. that took a good 80% of the bail out.


    This is EXACTLY what we were talking about in lovin's post! Corporate executives DID THIS!!!

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 11:30 AM on Aug. 12, 2010